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Rangers eyeing £20m fundraising venture

Rangers are hoping they can raise around £20million in funds by seeking admission into the Alternative Investment Market of the Stock Exchange.

Chief executive Charles Green wants to implement a strategy which will give the Glasgow clubs' supporters the opportunity to be a part of building for the future by restructuring their finances.

"From the time we acquired the business and assets of Rangers FC, we indicated our intention to list the company and provide our fans with the opportunity to invest in their club. I am delighted that our plans are coming to fruition," said Green.

"Rangers is debt-free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas. Our aim is to return the club to its glory days whilst ensuring it is run efficiently and profitably."

A Rangers statement added: "The funds raised will be used for strengthening the player squad, improving and developing the club's properties and facilities, as well as providing additional working capital."